AUDCHF Wave Analysis – 7 May 2025

- AUDCHF reversed from resistance zone

- Likely to fall to support level 0.5235

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EURNZD Wave Analysis – 7 May 2025

- EURNZD reversed from support level 1.8845

- Likely to rise to resistance level 1.9200

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The crypto market has moved to growth after a pause

Crypto Market cap has increased by 2.8% in the last 24 hours to $3.07 trillion, reacting positively to the US-China trade talks scheduled for the weekend. The recent move above this round level was preceded by a two-week consolidation just below it. Technically, the market is also showing appreciation with a rise above the 200-day moving average. The next upside target is the $3.20 trillion area, where the market stayed for most of February.

Bitcoin has reached the $99K mark, last seen in early February. Technically, a Fibonacci extension has begun with a potential upside of 161.8% from the rally from 9 April to 2 May to above $112K. Reaching the April lows fits into a broader scenario of a correction from the global rally from last September to January this year, with a target in the $162K area and upside potential of over 60%.

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⚠️ UK — Bank of England Interest Rate Decision at 11:00 GMT

✔️ Prev: 4.50%

🕒 Exp: 4.25%
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⚠️ UK — MPC Official Bank Rate Votes at 11:00 GMT

✔️ Prev: 0-1-8

🕒 Exp: 0-9-0
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⚠️ UK — Monetary Policy Summary at 11:00 GMT


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⚠️ UK — BOE Monetary Policy Report at 11:00 GMT

⚠️ USA — Unemployment Claims at 12:30 GMT

✔️ Prev: 241K

🕒 Exp: 231K

Powell supported the dollar through the rate

The Federal Reserve left the key rate unchanged and expressed its intention not to hurry with its reduction. Powell noted the intensification of inflationary pressures and possible risks of unemployment growth, as well as the fact that the duties are still higher than expected. At the beginning of his speech, the Fed chief emphasised several times that there was no rush to change rates. Such statements are in line with the trend of recent weeks, when traders were revising their expectations for the next policy easing.

The day's changes in the numbers were not significant. The probability of three or more rate cuts before the end of the year (main scenario) is almost 70%, up from 75% the day before. This is in sharp contrast to nearly 92% a month earlier. The Fed chief's comments point to the possibility of a further shift in expectations towards higher rates before the end of the year.

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🇺🇸 Trading dynamics at the stock market pre-market

📈 The US stock market pre-market today is dominated by positive dynamics.

Google (GOOGL) shares are up 2.64%, Meta (META) adds 1.71%, and Tesla (TSLA) shows a 1.26% increase.

In the technology sector, Oracle (ORCL) is losing 0.47% while NVIDIA (NVDA) is up 1.34%.

In the financial sector, JPMorgan (JPM) is up 0.70%, and in the consumer discretionary sector, Procter & Gamble (PG) is losing 0.08%.

Such dynamics may weaken demand for the dollar as a defensive asset, supporting other currencies.

⚠️ Canada — BOC Press Conference at 15:00 GMT

Ethereum Wave Analysis – 8 May 2025

- Ethereum broke the resistance zone

- Likely to rise to resistance level 2100,00

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Bank of America Wave Analysis – 8 May 2025

Bank of America: ⬆️ Buy

- Bank of America broke the resistance zone

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🗓 Economic Calendar at 2025/05/09 (GMT)

03:04 🇨🇳 Trade Balance — Exp: 97.0B | 701B Actual: 96.2B | 690B

08:40 🇬🇧 ⚡️ BOE Governor Andrew Bailey Speaks

09:55 🇺🇸 FOMC Member Michael S. Barr Speaks

10:45 🇺🇸 FOMC Member Adriana D. Kugler Speaks

11:15 🇬🇧 MPC Member Huw Pill Speaks

12:30 🇨🇦 ⚡️ Employment Change — Exp: 4.1K Actual: 7.4K

12:30 🇨🇦 ⚡️ Unemployment Rate — Exp: 6.8% Actual: 6.9%

12:30 🇨🇦 Part-Time Employment Change Actual: 31.5K | -24.2K

12:30 🇺🇸 FOMC Member John C. Williams Speaks

15:30 🇺🇸 FOMC Member John C. Williams Speaks

15:30 🇺🇸 FOMC Member Christopher J. Waller Speaks


[Updated in real time]

Nikkei 225 index Wave Analysis – 8 May 2025

Nikkei 225 index: ⬆️ Buy

- Nikkei 225 index broke the resistance zone

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EURUSD Wave Analysis – 8 May 2025

- EURUSD broke support zone

- Likely to fall to support level 1.1130

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What's up crypto bears, how are your positions?

👍 - no trade = no loss
👎 - the bubble is not burst yet
😎 - Monero rules, who needs BTC

⚠️ UK — BOE Governor Andrew Bailey Speaks at 08:40 GMT

A sharp crypto market awakening

The crypto market has added about 5.8% to its capitalisation over the past 24 hours, bringing it to $3.24 trillion. This is roughly the area where the market has been consolidating for most of February. A pause halfway to the area of historical highs above 3.50 looks like a logical respite. Back in November, the market surged without major pauses—but this time, the momentum appears more measured, with less of the earlier excitement.

The crypto market sentiment index reached 73, which is only a couple of steps away from extreme greed and is the highest since late January. Often, this is a working sentiment for continued growth.

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